Straight from the Specialists
(The views expressed in this column are the author’s own and do not represent those of Reuters)
Opposition party protests against the UPA coalition government’s economic reforms could not puncture market sentiment in the past four weeks. One domestic brokerage house dealer’s “fat finger” did it in just a few seconds.
Friday’s flash crash at the National Stock Exchange made some people doubt the exchange platform’s stability and the Indian stock market, which was brought to its knees within a few seconds with a 6.5 billion rupee selling order across 59 stocks.
The mood was buoyant earlier on Friday after fresh reforms announced the previous day, and I thought the Nifty was firmly on its way to 5,850/5,900 – until all hell broke loose.